This week, we reviewed the 2022 milk price.

That it has taken until the end of May speaks volumes. Last year was extraordinary, both in terms of milk price and costs at farm level. To complete this review, we had to wait for the final milk price top-up from Kerry, which delayed publication in the main.

While the Kerry price top-up revealed last week is a significant lift for Kerry milk suppliers, the Kerry giant remains towards the back end of the ranking.

The inadequacies of doing a milk price review without the participation of the milk processors allowing an independent firm detail the actual money returned to farmers is significant. It is an injustice to the milk suppliers, the milk processors and the industry overall. In effect it can often add to the confusion.

It is understandable that having one rule to compare between processors is difficult.

The current exercise has a place, but so much is left out that would better reflect the long term investment by most processors in their milk suppliers, the owners of the businesses.

We have moved to bringing more analysis on the financial reporting of the dairy co-ops alongside the milk price reporting so that again, better balance is reported long term when comparisons are drawn for the sector.